Egypt s Suez Cement has reported a 7% increase in sales for the first half of 2012 despite a difficult trading environment which saw frequent energy shortages and major price increases.
The company said that the uncertainty of energy supply meant that it achieved lower production volumes and had higher operating costs. Despite this, however, it managed to grow net profits by 46% to $55.6m during the period.
It said this was achieved thanks to "many efforts deployed to control and improve costs and manufacturing efficiency.
Looking ahead, the firm said that it remained cautious about market conditions during the second half of the year as a result of the recent political turmoil in the country.
Source:
http://www.uaecement.com/newsDetail.aspx?id=937
